Seems pretty simple. The hard part, having been through it a few times (once on the venture track and several times on the corporate “intrepreneuring” track), is to a) Avoid being enamored with “the idea”, and b) Stay focused enough to carry out the little section on the middle upper right of the diagram, between the building and the test beakers. Steve might have been saying this back when I went through this process under VC funding, and his guidance, but nobody else was: “Who will buy this? Why will they buy it? How will they buy it? What are their other options (i.e. Why might they not buy it?) “. If you can’t answer that, then you either have the wrong idea (go back into the “building”, or just start over with a different idea), or you have the wrong business model. My experience is that there are not really that many business models, or at least not that many that are attractive (i.e. make lots of money and profit), so usually it’s back to “the idea”… Scott